Thai cryptocurrency exchange Zipmex, which is currently facing financial difficulties, has proposed a restructuring plan that includes paying creditors a fraction of its original claims. The exchange offered creditors an initial claim of "about 3.35 cents," according to Bloomberg.
The proposal forms a key part of the company's restructuring strategy as it grapples with $97 million in debt owed to customers.
Reorganization Plan and Creditors’ Response
The restructuring proposal, while providing some relief, is far less than the total amount owed. Zipmex's move to offer such a percentage repayment reflects its current financial challenges.